Nokia, the Finnish telecom equipment manufacturer, announced on Monday that it has entered into a multi-year 5G patent license agreement with Chinese smartphone vendor Vivo. Net sales from this deal will be recognized starting in the first quarter of 2024.
According to Nokia, this agreement resolves all ongoing patent litigation between the two companies across various jurisdictions. The specific terms of the agreement remain confidential, as mutually agreed upon.
This marks Nokia’s sixth major smartphone licensing agreement in the past 13 months, following deals with Apple, Samsung, OPPO, Honor, and Huawei. The company stated that it has nearly completed its smartphone license renewal cycle.
In addition, Nokia anticipates its intellectual property licensing business, Nokia Technologies, to generate at least 1.4 billion euros ($1.51 billion) in operating profit in 2024.
